HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported a loss of $654 million in its first quarter.
On a per-share basis, the Houston-based company said it had a loss of $1.49. Losses, adjusted for one-time gains and costs, were $1.16 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.41 per share.
The oil refiner posted revenue of $21.93 billion in the period.
Phillips 66 shares have climbed 16% since the beginning of the year, while the S&P's 500 index has climbed 12%. The stock has climbed 10% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSX at https://www.zacks.com/ap/PSX
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